A condominium is a private unit that’s owned by an individual and is situated within a larger residential complex. Condos are located in desirable areas within cities and usually come with several shared amenities, such as a gym, swimming pool, party room, etc. A homeowner’s association typically manages these common areas and sets forth specific rules and restrictions at the building level, while also charging monthly fees.
Are condos a good investment?
Buying a condo is a smart choice if you’re new to real estate investment. For instance, apartments for sale are less expensive than single family homes and require less maintenance. Granted, they also don’t appreciate in value as much as houses and come with homeowner’s association fees and specific rules and restrictions. Even so, condos can still offer decent returns when rented out. In addition, there’s often increased interest in condos due to their desirable location and amenities, so finding tenants should be easy. Alternatively, if you’re a condo owner residing in your own unit, you can become a real estate investor a few years after purchase. You can refinance your mortgage, extract some equity, rent out the condominium and then use the equity plus the rental earnings to buy your next property.
How many condos for sale are available in Mississauga, ON?
There are 586 apartments for sale in Mississauga, ON, with prices ranging from $399,000 to $2,189,900.
How do I search for condos for sale in Mississauga, ON?
Browsing Mississauga, ON apartments for sale has never been easier on Point2! Narrow your search by filtering listings based on price, square footage, number of bedrooms and bathrooms, year built, etc. Additionally, sort Mississauga, ON condos for sale according to price drops in the last six months so you never miss a bargain. Interested in condos for sale near your location? Use the map view to find apartments for sale nearby.
What is the difference between a condo and an apartment?
An apartment is a unit in a building owned entirely by a landlord — a leasing company that handles all the rentals. Conversely, a condo is owned by an individual who either lives in the unit or rents it out. Essentially, you can buy or rent a condominium, whereas you can only rent an apartment. Unlike apartments, condos are newer and more common in larger cities and in more desirable locations. They’re also often associated with luxury living, offering a wider set of amenities and facilities than apartments.
What is the difference between a condo and a townhouse?
A condo is an individual unit within a large residential complex that shares several walls, as well as the floor and/or ceiling, with other condos. In contrast, a townhouse is a vertical structure with multiple levels and only one or two walls in common with adjacent units. Notably, townhomes usually include a larger total living space and offer more privacy. As opposed to condominiums, owning a townhouse means not only owning the interior of the property, but also the land it sits on, so you’ll have a private front and backyard at your disposal. As a result, townhomes tend to be more expensive than condos.
Mississauga is located in the southeastern portion of Ontario and is part of the Greater Toronto Area. This suburb of Toronto covers 292.43 square kilometres and is situated near the communities of Brampton, Oakville, Milton, and Vaughan.
The city is home to over 720,000 people, making it the six-most populous municipality in Canada. The southeastern section of the city is located along the shore of Lake Ontario. Being a major city, Mississauga offers multiple transportation options, schooling options, and a variety of entertainment.
Housing prices in Mississauga range from around $300,000 to $700,000, providing a variety of options for those interested in homeownership.
Mid- to high-priced single-family homes and row houses, as well as condos, are common in the city’s northern section, and there is plenty of retail commercial space here also. In the central section of the city, options include high-rise condo buildings, large luxury homes, more affordable row houses, and mid-priced single-family homes. Large luxury homes on sprawling lots and high-priced vacant land make up the majority of the real estate in the southern section of the city.
Condo Market
Most of Mississauga’s condo options are located in the central and southeastern sections of the city. Monarchy by the Monarch Group is a slightly older completed building that offers 23 storeys of units. The building’s 512 units range in size, and prices are normally between $300,000 and $600,000. Amenities at Monarchy include a gym, a recreation room, a pool and sauna, a squash court, a meeting room, and an onsite security guard. A more recently completed building, Absolute World V by Fernbrook Homes offers 457 units in 50 storeys with a uniquely shaped exterior. Prices for units range from around $250,000 to $420,000, and the building includes amenities such as a gym, a pool, a party room, concierge service, a security guard, a squash court, and a parking garage.
Grande Mirage by Conservatory Group is in the preconstruction phase and will feature 344 units in the 22-storey building. Amenities will include a gym, a pool and sauna, a party room, a bowling alley, a media room, and a recreation room. Prices for units have not yet been announced. Newly constructed Windows on the Green by Vandyk offers 150 units in 4 storeys, with units ranging in price from around $350,000 to $590,000. Amenities include a gym, barbeques, an outdoor patio/garden, a media room, a party room, and visitor parking.
Employment
Mississauga’s unemployment rate is higher than the national average, at close to 9%. Mississauga is home to many company headquarters and major branches, including TD Bank, Royal Bank of Canada, Air Canada Jazz, Laura Secord Chocolates, Walmart Canada, Kellogg’s Canada, Hewlett Packard, Panasonic Canada, and Air Georgian. Key industries in the city include banking/finance, manufacturing, aerospace, electronics, and pharmaceuticals.
Transportation
Mississauga residents have multiple options when it comes to public transportation, including commuter rail, bus, and light rail transit. Commuter rail service is operated by GO Transit, while bus service is provided by MiWay. The three main rail lines include Lakeshore West, Kitchener, and Milton, which provide residents with easy transportation to surrounding communities. Buses in the city service around 90 routes and connect to commuter rail services. Other transportation options in the city include the Lester B. Pearson International Airport (the largest and busiest airport in Canada), Greyhound (long-distance bus), and multiple highways.
Schools
Mississauga’s four school boards are the Peel District School Board, the Dufferin-Peel Catholic District School Board, the Conseil scolaire Viamonde, and the Conseil scolaire de district catholique Centre-Sud. In total, the four school boards operate more than 150 schools across the city. Numerous private school options are also available in Mississauga.
Some of the post-secondary options found in the city include Sheridan College, CDI College, and the University of Toronto (Mississauga campus).
Family Life
The Credit Valley Golf and Country Club features an 18-hole golf course, practice bunkers, practice greens, target greens, teeing space, a short game area, a putting green, an indoor golf facility, a fitness facility, fitness classes, personal training, a swimming pool, swimming lessons, aquafit classes, and a clubhouse. The clubhouse can be booked for private events and offers onsite catering.
Playdium Amusement Centre offers hundreds of high-tech attractions, rides, and simulation devices, including a rollercoaster simulator, a laser maze, an outdoor go-kart track, a baseball dome, arcade games, bumper cars, and mini-golf. An onsite bar and lounge, as well as a concession area, provide visitors with an opportunity to take a break from the fun.